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Reykjavik, Iceland: Cost of Living, Healthcare, Local Clubs and Activities, Healthcare and What to Know About Living in Reykjavik | Expat Exchange
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Reykjavik, Iceland

Cigna Global Health
Cigna Global Health
Cigna Global Health
Cigna Global Health

By Joshua Wood, LPC

Last updated on Feb 14, 2024

Summary: People often describe Reykjavik, Iceland as a vibrant, modern city with a unique culture and stunning natural beauty. Expats love the city's friendly atmosphere, its excellent public transportation system, and its abundance of outdoor activities. The weather in Reykjavik is generally mild, with temperatures ranging from the mid-30s to the mid-50s Fahrenheit. The average cost of living for an expat is estimated to be around $2,000 to $3,000 per month. The cost of a one bedroom apartment in Reykjavik is around $1,500 to $2,000 per month, while a two bedroom apartment can cost anywhere from $2,000 to $3,000 per month. Reykjavik has a population of approximately 121,230 people.

What do I need to know about living in Reykjavik?

When we asked people what advice they would give someone preparing to move to Reykjavik, they said:

"Before retiring in Reykjavik, it is important to research the cost of living in the city and the regulations governing the retirement age. You should also look into the availability of healthcare and any other services you may need as a retiree. When applying for residence, gather all required documentation as required by the Directorate of Immigration in Reykjavik. It is beneficial to research cultural norms and Icelandic language to improve your understanding of the city. Additionally, familiarizing yourself with local laws and regulations can help make your retirement smoother. Before retiring in Reykjavik, make sure to visit the city or Region sometime during retirement so that you can truly experience life in the area," remarked one expat who made the move to Reykjavik.

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What do I need to know before moving to Reykjavik?

When we asked people what advice they would give someone preparing to move to Reykjavik, they said:

"Before moving to Reykjavik it is important to research the cost of living, including rent and living expenses. It is also beneficial to be aware of the culture and customs of Iceland, as well as the language (although the majority of the population speaks English). Additionally, the atmosphere in Reykjavik can be quite different due to the cold and dark winters, so researching the climate is important. It can also be helpful to research job opportunities in Reykjavik and the variety of activities and attractions in the area. Lastly, it is also beneficial to acquire some basic knowledge of the Icelandic banking system, healthcare system, and currency," wrote one member in Reykjavik.

How do I find a place to live in Reykjavik?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"To find a place to live in Reykjavik, one of the best methods is to contact a reputable real estate agent. They can provide you with advice on the best places to look as well as provide assistance in your search. Additionally, there are a number of online resources available such as Airbnb, Couchsurfing and Facebook groups that offer listings. Additionally, visiting websites such as EasyRoomMate or Reykjavik Rentals can provide you with an array of options for housing. Finally, you can also approach local homeowners for potential long-term leases or rent out a room in a shared apartment," remarked one expat living in Reykjavik, Iceland.

What is a typical expat home or apartment like in Reykjavik?

"Expat homes and apartments in Reykjavik tend to be modern and streamlined, with high-quality fixtures and appliances. Many apartments have beautiful views, often of the surrounding mountains or the city skyline. Interior design is typically contemporary and minimal, but with some homey touches like throws and cushions, as well as bright colors and artwork. Space is often quite limited, but people make the most of it by using furniture that can be easily moved around, as well as folding doors and built-in cabinets for extra storage. Internet and cable TV are generally included in expat accommodation," wrote a member in Reykjavik.

What is the average cost of housing in Reykjavik?

If you are thinking about moving to Reykjavik, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The cost of housing in Reykjavik is generally considered high. The average cost of a one-bedroom apartment in the city centre is around €1600-1700 per month, while a three-bedroom apartment can reach up to €2500. Prices in outlying areas are generally lower," explained one expat living in Reykjavik, Iceland.

How do I meet people in Reykjavik?

When we asked people living in Reykjavik about club and activities where newcomers can meet others, they responded:

"One of the best ways to meet people in Reykjavik is to join a social group or club. There are many clubs and groups that you can join in Reykjavik such as amateur sports teams, language clubs, art classes, and social meet-ups. You can also join online communities or Facebook groups that are based in Reykjavik and meet people with similar interests. Other options include checking out volunteer opportunities or local music venues for live music events. Finally, getting involved in the Reykjavik festivals and events that occur throughout the year is another great way to meet new people," wrote one member in Reykjavik.

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What should I bring when moving to Reykjavik?

People living in Reykjavik were asked what three things they wish they had brought and three they wish they had left behind. They wrote:

"Essentials: Clothes for all weather conditions (warm layers for cold and wet conditions, raincoat and warm boots), basic toiletries, any medication, kitchen essentials such as plates, cutlery and utensils, bedding, food and snacks, flashlight, umbrellas, a good dictionary, books or guidebooks to learn about Reykjavik, comfortable shoes, electrical plug adapters and extension cords, personal documents such as passport and travel visas, a reusable water bottle. Additionally, depending on circumstances, don’t forget appropriate extra items such as a laptop, camera, furniture, electronics or even a bike or snowshoes," wrote one member in Reykjavik.

Where should I setup a bank account in Reykjavik?

We asked expats in Reykjavik what banks they use and there advice about banking. They advised:

"To setup a bank account in Reykjavik, you should visit one of the local banks and branches, such as Arion Bank, Landsbankinn, and Íslandsbanki. All of these banks offer comprehensive banking services, including setting up new bank accounts. Before setting up a bank account, it’s wise to bring your passport or other identification document, proof of address in Reykjavik, and some other documents as required by the bank. Additionally, it may be helpful to contact the bank beforehand to see what documents and information you need to provide in order to set up an account," said one expat who made the move to Reykjavik.

Will I be able to find a job in Reykjavik?

When we asked people about industries and career opportunities in Reykjavik, they reponded:

"Yes, you should be able to find a job in Reykjavik. The job market in Reykjavik is quite varied and there are a number of industries from which to choose. There are a variety of jobs available in the service, manufacturing, and technology sectors. The tourism industry is also an active employer in Reykjavik. Additionally, many international companies have offices in Reykjavik, providing plenty of potential job opportunities," explained one expat living in Reykjavik, Iceland.

What is life like in Reykjavik?

When we asked people living in Reykjavik what life is like and how people spend their time, they said:

"Life for expats and digital nomads in Reykjavik is full of adventure and opportunity. The city is known for its vibrant culture, stunning natural beauty, and friendly locals. Expats and digital nomads can enjoy the city's many attractions, such as its museums, galleries, and music venues. Reykjavik is also home to a thriving tech scene, making it an ideal place for digital nomads to work and live. The cost of living in Reykjavik is relatively low, making it an attractive destination for expats and digital nomads. Additionally, the city is well-connected to the rest of the world, with a number of international flights and ferry services. All in all, Reykjavik is an excellent place for expats and digital nomads to explore and experience the unique culture of Iceland," said one expat who made the move to Reykjavik.

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What do expats in Reykjavik appreciate most about the local culture?

"Expats in Reykjavik appreciate the quality of life in the city, as well as the friendliness of the locals. They also enjoy the diverse culture and rich history, as well as the amazing natural beauty of the country. In addition, the wide variety of activities available, from outdoor adventures to nightlife, provides something for everyone. Furthermore, the culinary scene in Reykjavik is renowned, with numerous restaurants, cafes, and bars offering traditional Icelandic dishes and international flavors. Finally, Iceland has a well-established arts scene, from its many galleries and theaters to its vibrant music scene," explained one expat living in Reykjavik, Iceland.

What do expats find most challenging?

"Expatriates often face a variety of challenges while living abroad, such as financial issues, adapting to a new culture, loneliness, difficulty finding employment and suitable housing, language barriers, and difficulties in obtaining a work visa. Other challenges include navigating complex immigration procedures, dealing with unfamiliar bureaucracy, confronting cost-of-living differences, and learning to live without family, friends, and other familiar comforts," commented one expat who made the move to Reykjavik.

Is there a lot of crime in Reykjavik?

We asked people if there is a lot of crime. They answered:

"No, there is not a lot of crime in Reykjavik. The crime rate in the city is low, and the Icelandic police are highly rated for their efficiency in keeping the streets safe," remarked one expat living in Reykjavik, Iceland.

Is there a lot of diversity? Are people in Reykjavik accepting of differences?

"Reykjavik is not very diverse, but it is a tolerant and generally accepting city. Racism is not widely accepted there, so people from all walks of life tend to feel welcomed and accepted. They also have a very open-minded perspective and are willing to learn about different cultures and beliefs. Reykjavik is also home to a variety of restaurants, shops, and services that cater to travelers from around the world. There is a large diaspora of East Asian immigrants in Reykjavik and they are accepted and welcomed into the community. Overall, Reykjavik is an open and accepting city that values diversity," remarked one expat who made the move to Reykjavik.

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What are the schools in Reykjavik like?

"Look into homeschooling. Even if you do decide to send you child to this school you'll be doing a lot of supplemental teaching at home. This is our kids fourth international school so far and it hasn't been a good experience for them. We can't wait to leave. Love the country but hate the school," remarked one expat living in Reykjavik with children attending International School of Iceland.

"Reykjavik has a variety of public and private schools offering education from kindergarten through secondary level. Reykjavik's public schools provide free education to students from the area and strive to ensure a high quality learning experience. Private schools also exist throughout the capital, as well as special schools for children with disabilities. Many schools have small class sizes to ensure individualized attention for each student and a wide range of extracurricular activities. With the ongoing support of the Icelandic government, Reykjavik's educational landscape is continually evolving and improving," said one expat in Reykjavik with children at .

What are the pros and cons of living in Reykjavik?

Expats, digital nomads and retirees living in Reykjavik responded:

"Despite my earlier comment about criminal activity, Reykjavik is a wonderful place to grow up and also to raise up children. The education system is great for even the smallest of children. However, as an adult, needing to work, due to language barriers a lot of jobs are not available to me due to the level of Icelandic written and spoken that is needed to get hired. Food is expensive and the national food is not very appealing outside of the dairy products. ," mentioned one expat inReykjavik.

"Expats and digital nomads living in Reykjavik, often like the stunning natural beauty of the country, with its unique landscapes, geothermal pools, and opportunities for outdoor activities such as hiking, skiing, and whale watching. They also appreciate the high quality of life, excellent healthcare system, and low crime rates, which contribute to a safe and comfortable living environment. Reykjavik is known for its friendly and welcoming locals, who often speak English fluently, making it easy for expats to communicate and integrate into the community. The city also has a vibrant arts and culture scene, with numerous festivals, museums, and galleries to explore. On the other hand, expats and digital nomads may dislike the high cost of living in Reykjavik, as Iceland is known to be one of the most expensive countries in the world. This includes high prices for housing, groceries, dining out, and transportation. The weather can also be a challenge, with long, dark winters and unpredictable weather conditions, which may not be suitable for everyone. Additionally, the small size of Reykjavik and its remote location can make some expats feel isolated, with limited options for travel and entertainment compared to larger cities. Finally, the job market in Reykjavik can be competitive, and it may be difficult for expats to find work without specialized skills or knowledge of the Icelandic language," commented one expat who moved to Reykjavik, Iceland.

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What type of social life can someone expect in Reykjavik?

When we asked expats and global nomads about their social experiences in Reykjavik, they replied:

"Expats, retirees, and digital nomads living in Reykjavik typically enjoy a vibrant and diverse social life. They often connect with fellow expats and locals through various social events, clubs, and organizations. Many engage in outdoor activities such as hiking, swimming, and exploring the stunning natural landscapes that Iceland has to offer. They also participate in cultural events, festivals, and art exhibitions, which are abundant in Reykjavik. Additionally, they often frequent the city's numerous cafes, bars, and restaurants, where they can socialize and experience the local cuisine. Language exchange groups and classes are also popular among expats, as they provide an opportunity to learn Icelandic and make new friends. Overall, the social life of expats, retirees, and digital nomads in Reykjavik is rich and fulfilling, offering a unique blend of nature, culture, and camaraderie," said one expat living in Reykjavik.

"The social scene in Reykjavik is vibrant, diverse, and welcoming. The city is known for its lively nightlife, with numerous bars, clubs, and live music venues that stay open late into the night. Reykjavik also has a thriving arts and culture scene, with various galleries, museums, and theaters showcasing local and international talent. The city hosts several festivals throughout the year, celebrating music, film, and other creative arts. Reykjavik's residents are known for their friendly and open nature, making it easy for visitors to strike up conversations and make new friends. The city has a strong sense of community, with locals often gathering in public spaces like parks, swimming pools, and cafes to socialize and enjoy each other's company. The food scene in Reykjavik is diverse and delicious, with a mix of traditional Icelandic cuisine and international flavors. There are numerous restaurants, cafes, and food trucks offering a wide range of options to suit all tastes and budgets. Outdoor activities are also an important part of the social scene in Reykjavik, with locals and visitors alike enjoying the city's stunning natural surroundings. Hiking, biking, and exploring the nearby geothermal pools are popular pastimes, as well as taking advantage of the long summer days to enjoy outdoor festivals and events. Overall, the social scene in Reykjavik is lively, inclusive, and offers something for everyone, making it an exciting and enjoyable place to visit or live," said one expat.

What advice to expats in Reykjavik have about housing?

"Expats in Reykjavik advise newcomers to start their housing search early, as the rental market can be competitive. They recommend using local websites, social media groups, and real estate agencies to find available properties. It's important to be prepared to act quickly when a suitable property is found, as they can be rented out fast. Expats also suggest considering shared housing or renting a room in a larger house to save on costs, as living in Reykjavik can be expensive. They recommend exploring different neighborhoods to find the one that best suits your lifestyle and budget. Some popular areas for expats include downtown Reykjavik, Vesturbær, and Laugardalur. When signing a lease, expats advise reading the contract carefully and ensuring that all terms and conditions are clear and understood. It's also important to be aware of any additional costs, such as utilities, maintenance fees, and taxes. Expats recommend having a local friend or colleague review the lease agreement to ensure there are no hidden surprises. Lastly, expats in Reykjavik emphasize the importance of building a good relationship with your landlord, as this can make your stay more enjoyable and help with any issues that may arise during your tenancy," remarked one expat in Reykjavik.

What are medical services in Reykjavik like?

When we asked expats and global nomads about the quality of medical care in Reykjavik, they replied:

"Medical services in Reykjavik, are of high quality and easily accessible. The city has several well-equipped hospitals, clinics, and healthcare centers that offer a wide range of services, including emergency care, general practice, specialist consultations, and dental care. The healthcare system in Iceland is universal, with residents receiving comprehensive coverage through the national health insurance system. Private healthcare options are also available for those who prefer it. Medical professionals in Reykjavik are highly trained, and many speak English, making it easier for tourists and expats to communicate their needs. Pharmacies are also readily available throughout the city, providing prescription and over-the-counter medications. Overall, Reykjavik offers excellent medical services to both residents and visitors," said an expat in Reykjavik.

Are healthcare and health insurance expensive in Reykjavik?

"Healthcare and health insurance in Reykjavik can be considered expensive, especially for non-residents. The country has a universal healthcare system, which provides coverage for most medical services for Icelandic citizens and residents. However, non-residents may need to purchase private health insurance or pay out-of-pocket for medical services, which can be costly. Additionally, even for residents, certain services like dental care and prescription medications may not be fully covered, leading to additional expenses. Overall, while the quality of healthcare in Reykjavik is high, the costs can be significant, particularly for those without access to the public healthcare system," mentioned an expat living in Reykjavik.

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Relocating abroad soon? Make your move with AGS! AGS Worldwide Movers is a leader in the international moving industry. Our experience and expertise allows us to guarantee our clients the best quality moving services.

Learn MoreGet Quote

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Relocating abroad soon? Make your move with AGS! AGS Worldwide Movers is a leader in the international moving industry. Our experience and expertise allows us to guarantee our clients the best quality moving services.

Learn MoreGet Quote

Why do people move to Reykjavik?

When we asked people why foreigners move to Reykjavik, they responded:

"Expats are attracted to Reykjavik, for various reasons, including its stunning natural beauty, with picturesque landscapes, geothermal pools, and the Northern Lights. The city offers a high quality of life, with excellent healthcare, education, and social welfare systems. Reykjavik is known for its safety, low crime rates, and a strong sense of community, making it an ideal place to raise a family. The city also boasts a vibrant arts and culture scene, with numerous museums, galleries, and music venues. Additionally, Reykjavik is an eco-friendly city, with a strong focus on sustainability and renewable energy. The Icelandic people are known for their friendliness and welcoming nature, making it easy for expats to integrate into the local community. Finally, the city offers various job opportunities, particularly in the fields of technology, tourism, and renewable energy, attracting professionals from around the world," said one expat living in Reykjavik.

About the Author

Joshua Wood Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.

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